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Industrial buying during the coronavirus pandemic : a cross-cultural study

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Habel, Johannes, Jarotschkin, Viktor, Schmitz, Bianca, Eggert, Andreas and Plötner, Olaf (2020) Industrial buying during the coronavirus pandemic : a cross-cultural study. Industrial Marketing Management, 88 . pp. 195-205. doi:10.1016/j.indmarman.2020.05.015

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Official URL: https://doi.org/10.1016/j.indmarman.2020.05.015

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Abstract

With the onset of the 2020 coronavirus pandemic, industrial suppliers are increasingly challenged to close their open sales opportunities and keep generating business. Against this backdrop, the authors of this study investigate which offerings industrial customers are most likely to purchase as the pandemic progresses. Drawing on positive decision theory and empirically investigating 31,353 sales opportunities across 57 countries, the authors show that the coronavirus pandemic significantly decreases industrial customers' purchase probability, especially for high-priced offerings. In countries with low uncertainty avoidance and strong long-term orientation (e.g., China, India, Singapore), purchase probability is less affected by the pandemic. The coronavirus pandemic even increases purchase probability for offerings with low prices in countries where cultures are simultaneously uncertainty-avoidant and short-term oriented (e.g., Argentina, Brazil, Mexico). This is presumably because customers safeguard their operations in the face of impending supply shortages. Consequently, this helps suppliers focus on the right sales opportunities to secure their business during exogenous global shocks such as the coronavirus pandemic.

Item Type: Journal Article
Subjects: H Social Sciences > HD Industries. Land use. Labor
H Social Sciences > HF Commerce
R Medicine > RA Public aspects of medicine
Divisions: Faculty of Social Sciences > Warwick Business School
SWORD Depositor: Library Publications Router
Library of Congress Subject Headings (LCSH): COVID-19 (Disease), Industrial procurement, Consumer behavior
Journal or Publication Title: Industrial Marketing Management
Publisher: Elsevier Inc.
ISSN: 0019-8501
Official Date: 27 July 2020
Dates:
DateEvent
27 July 2020Published
23 May 2020Available
20 May 2020Accepted
Volume: 88
Page Range: pp. 195-205
DOI: 10.1016/j.indmarman.2020.05.015
Status: Peer Reviewed
Publication Status: Published
Publisher Statement:
Access rights to Published version: Restricted or Subscription Access

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